XAG - Silver has stopped falling and stabilized, showing signs of accumulating strength to rebound

The silver prices also rebounded on Monday, reversing the losses of last Friday. From the technical chart, we can see that both RSI and stochastic index have risen again, but we should also note that silver price was blocked near $32.70 level in the latter part of last week, and the rebound on Monday also stopped here temporarily. Therefore, it is estimated that if the market can break through this area in the future, its upward trend can be more certain. The current resistance is expected to be $32.90 and $33.30, with largest resistance expected to be at the $33.70 and $34. The supporting level looks at $32.30 and $31.90, and the next level refers to the 100-day moving average of $31.70 and $31.35.

London Silver Forecast range from May 5 to May 9
Resistance 32.25 – 32.60 – 32.90 – 33.55
Support 31.65 – 31.05 – 30.40 – 29.45

London Silver May 6
Forecast early range: 32.85 – 33.15
Resistance 33.50 – 33.90 – 34.30
Support 32.65 – 32.40 – 32.10

iShares Silver Trust Silver Holdings:
April 28 – 14,056.44 tonnes
April 29 – 14,130.00 tons
April 30 – 14,130.00 tons
May 1 – 14,009.77 tons
May 2 – 14,015.31 tons
May 5 – 13,958.74 tons

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